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Retirement and TTR Pensions - Fees and charges

Fees and charges

legalsuper works hard to keep fees and costs low. Our sole purpose is to maximise the retirement savings of our members. We do not pay commission to agents, and are an ‘all profits for members’ fund. Fees and costs are set out below:

For all investment options other than the Direct Investment option these amounts are not deducted directly or separately from your account. They are deducted proportionately from each investment option and are reflected in the calculations of the unit prices of each option. These fees are an estimate as they have been calculated using anticipated fees of current underlying investment managers and include an estimated level of performance fees and variable expenses. For the Direct Investment option - Investment transaction fees such as brokerage apply and are charged directly to your DIO Cash Account.

Administration fee

Direct fee$67.60 per year ($1.30 per week)

PLUS

Indirect fee0.29% pa of your account.

For all investment options the Direct fee is deducted from your account on a monthly basis through the sale of units. For all investment options other than the Direct Investment option the Indirect fee is not deducted directly or separately from your account. It is deducted proportionately from each investment option and is reflected in the calculations of the unit prices of each option. For the Direct Investment option the Indirect fee is deducted directly from your account through the sale of units from your account on a monthly basis.**

This fee will apply when you contribute to the fund (buy units), withdraw from the fund (sell units), or change your investment options (sell and buy units) and is reflected in the difference between the buy and sellprice of units in the relevant options. Buy-sell spreads reflect the cost of buying or selling assets and these vary from time to time. For more information, click here. No buy-sell spread is applicable to the Direct Investment option.

Switching fee

Nil

Not applicable

Exit fee

$50.00

Payable on full or partial withdrawals ortransfer out and deducted from youraccount through the sale of units.

Advice fees relating to all members investing in a particular investment option

Nil

General advice fees are collected as partof the Administration fee above. Personaladvice is charged as an Activity fee.**

Other fees and costs*

As applicable

If applicable, other fees and costs are deducted from your account as they are incurred at you request.*

These amounts are not deducted directly or separately from your account. They are deducted proportionately from each investment option and are reflected in the calculations of the unit prices of each option.***

* Please refer to 'Additional explanation of fees and costs' below.** This fee is deducted on the last day of the month based on your DIO balance at the time of processing the fee. The DIO balance used may be the balance at the close of the previous business day.

*** The indirect cost ratio (ICR) is an estimate of the operating and transaction costs associated with maintaining an investment portfolio. It is calculated based on available information from underlying managers, taking into account the Fund’s experience for the year ending 30 June 2017. This is legalsuper’s best estimate of future transaction and operating costs, but is subject to change from time to time.Note: The units to be sold to meet the fees in the above table are initially based on the proportions of your initial investment choice profile you select when you first apply to join legalsuper. If you change your investment choice profile for future contributions then the units to be sold will reflect the proportions of your latest investment choice profile recorded from that point onwards. If at any time there are insufficient units available to meet the fees using your current investment choice profile then the units to be sold will revert to a previous investment choice profile

If you maintain more than one legalsuper account (for example, a superannuation account and one or more pension accounts) you will pay the weekly administration fee in respect of each account. All fees and costs stated are GST inclusive.

Additional explanation of fees and costs

If you maintain more than one legalsuper account (for example, a superannuation account and one or more pension accounts) you will pay the weekly administration fee in respect of each account. All fees and costs stated are GST inclusive.

Activity fees include:

Advice fee: legalsuper enables you to pay an adviser an agreed fee from your superannuation account. Only fees that relate to advice given to you about your superannuation investment may be paid from your account. legalsuper reserves the right to reject an application and request further information.

DIO Brokerage: Brokerage is paid each time you purchase or sell stock in your DIO account. Please refer to the PDS for further details.

Family Law: The Trustee does not currently charge for information provided to members in relation to Family Law matters.

Further definitions of the terms used above in relation to fees and costs can be found under the heading 'Pension members' and selecting 'Defined Fees'.

Member fee capping

Where a member has an account balance* at 30 June at the end of the financial year which exceeds $350,000, their administration fees for that year will be capped. Administration fees are the sum of the direct fee of $1.30 per week plus the 0.29% per annum indirect fee based on your average account balance during the year. Where the cap applies and administration fees are to be rebated, the rebate will take place within 4 months after the end of the relevant financial year.

*The fee cap will not apply where a member’s account is closed on or before 30 June during that financial year.